Dolan Enterprises constructed a new warehouse for its distribution facility. The construction period began on May 1, 2014, and continued until October 31, 2015. Dolan began operating the warehouse on January 1, 2016. Material and labour costs totalled $5 million. Payments for these costs were made as follows:

Date                                                                           Payment
May 31, 2014 ................................................................ $  900,000
July 31, 2014 .................................................................     700,000
September 30, 2014 ...................................................    700,000
November 30, 2014 .....................................................   700,000
June 30, 2015 ................................................................    800,000
August 31, 2015 ............................................................   800,000
October 31, 2015 ..........................................................   400,000
Total ................................................................ ............. $5,000,000

Dolan used internal funds to finance these payments. The company had long-term debt of $35 million to $40 million with an interest rate of 8% throughout the construction period.

Required:
a. How much interest cost should be capitalized on the building under IFRS?
b. What is the range of financing cost that can be capitalized under ASPE?